VEGOILS-Palm rises on soyoil strength, weaker ringgit
KUALA LUMPUR, June 18 (Reuters) - Malaysian palm oil futures on Tuesday climbed as much as 0.9%, supported by gains in soyoil prices and a continued declined in the value of the ringgit. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange were at 2,052 ringgit ($490.91) per tonne at 0400 GMT. U.S. soyoil prices on the Chicago Board of Trade rose as much as 0.8% on Tuesday. The ringgit continued to weaken by 0.1% against the U.S. dollar. FUNDAMENTALS * U.S. soybean prices rose nearly 1% earlier on Tuesday to their highest in more than three months, pushed up after the U.S. Department of Agriculture said the pace of planting for the commodity was lagging market expectations. However, the contract later gave up some of those gains and is now down 0.7%. * Oil prices fell for a second day on Tuesday, after more signs that global economic growth is being impacted by the U.S.-China trade dispute, although losses were limited amid tensions in the Middle East after tanker attacks last week. MARKET NEWS * Investor caution ahead of the Federal Reserve's interest rate meeting capped Asian stocks on Tuesday, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions. * The British pound on Tuesday languished near this year's low on rising worries that Boris Johnson, the front-runner to replace UK Prime Minister Theresa May, could put Britain on a path towards a dreaded no-deal Brexit. * Wall Street edged higher on Monday, supported by Facebook, Amazon and Apple, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year. For more vegetable oil-related stories, please click DATA/EVENTS 0900 EU HICP Final MM YY May 0900 EU Eurostat Trade NSA, Eur April N/A US Federal Open Market Committee starts two-day meeting on interest rates Palm, soy and crude oil prices at 0400 GMT Contract Month Last Change Low High Volume MY PALM OIL JUL9 2039 +16.00 2019 2039 519 MY PALM OIL AUG9 2049 +18.00 2024 2050 3600 MY PALM OIL SEP9 2052 +18.00 2027 2053 8204 CHINA PALM OLEIN SEP9 4380 +10.00 4368 4390 216122 CHINA SOYOIL SEP9 5502 +14.00 5488 5530 219444 CBOT SOY OIL JUL9 28.22 +0.08 28.08 28.36 5781 INDIA PALM OIL JUN9 515.9 +3.10 513.10 516 80 0 INDIA SOYOIL JUN9 761 +2.10 759.45 761 250 NYMEX CRUDE JUL9 51.89 -0.04 51.77 51.99 7550 Palm oil prices in Malaysian ringgit per tonne CBOT soy oil in U.S. cents per pound Dalian soy oil and RBD palm olein in Chinese yuan per tonne India soy oil in Indian rupee per 10 kg Crude in U.S. dollars per barrel * For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type . * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in and press enter, or double click between the brackets. * Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils -- Malaysian palm oil exports -- CBOT soyoil futures -- CBOT soybean futures -- Indian solvent -- Weekly Indian vegetable oils -- Dalian Commodity Exchange -- Dalian soyoil futures -- Dalian refined palm oil futures -- Zhengzhou rapeseed oil -- European edible oil prices/trades -- ($1 = 4.1800 ringgit) ($1 = 69.8090 Indian rupees) ($1 = 6.9258 Chinese yuan) (Reporting by Liz Lee; Editing by Christian Schmollinger)
